i had a manager tell me some upper level techs on union side are being forced to retire by the end of the year or lose some of their pension. is there any truth to this ? if true how many would it be ?
16 replies (most recent on top)
No, the Medicare supplement already went bye bye. This time around if you do not leave by end of year you will lose Health Benefits when you retire as mentioned the Medicare supplement went away I believe last year,
@btg+1dPI16Px - truth
I stayed way too long thinking about the benefits I was going to get when I retire then I saw what stank was doing and left they will eventually take them all away there is no doubt in mind.
just glad I got out with my pension and it isn't in their hands anymore. who knows what pension laws they would force to get passed to get the employees pensions.
I was told this his also applies to management employees as well. I believe the benefits they are referring to are if you are Medicare eligible. Supposedly they are going to take away some benefits they had towards Medicare.
Is the reduction/removal of retiree medical benefits significant? I am so far away from that I don’t have a good understanding of the impact.
The lump sum buyout option will go down after Jan 1, 2022 as a result of interest rate increase of corporate bond rate. The amount varies depending on the actual payout. Not a Hugh change.
It is possible to lose a portion of the pension on a cash distribution if interest rates change because the payout amount will be different.
Good thing that there is no inflation. 😜
Hopefully no one will retire based on benefits. As seen over the last year, Stankey and Santone will eliminate benefits at a whim. They are nothing less than indian givers. Like Stankey always says, no one is safe. Well the same goes for benefits, no benefit is safe. They will eliminate any benefit if it will save them a dime. They have already searched all the couch cushions for loose change.
Nothing being forced. Kinda like that vaccine mandate. Everyone has a choice, and your actions/choice will have consequences.
The 'forced to retire' is actually that people are retiring 'now' who are in a certain group because some retirement benefits are changing/going away. So they are 'forced' to retire if the want to keep those benefits - it is their choice however, they are not being let go etc.
To answer properly one should read their pension plan SPD and SMM's, while it will put you to sleep it needs to be understood. In response to Post ID: @dnu+1dPI16Px just because you are vested or receiving a company annuity means nothing when the plan becomes underfunded or transferred to the government pbgc who then determines your final amount of annuity. Never leave money with your employer.
I've never experienced ANY productive ATT employee. Management is hopeless. Look at the stock price, reaping what they sow.
LOL! the stupidity in the lower ranks is amazing
Forced to retire, is that a euphemism for fired?
If not, what is it
It's true. Need to get rid of a lot of unproductive union "techs". In the union tech means basic manual labor like can plug an electric cord into a wall socket, can plug a landline phone into a wall jack, .... LOL Give me a thumbs down if you're an id--t
Consider the source..........
When you are vested your pension is untouchable. Any senior technician would have been fully vested a long time ago.